What are the material issues the company has identified?  

In its 2022 Sustainability Report Lundin Mining identified a range of material issues, such as tailings and waste management, GHG emissions, community relations and development, workplace health and safety, water use and efficiency. Among these, creating economic value for its stakeholders stands out as a key material issue for Lundin Mining.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Lundin Mining engages with:

Stakeholder Group	Method of engagement
Local Communities	·      Occasional virtual webinars, trainings and forums ·      Scheduled virtual/ in-person meetings ·      Guided site tours and visits to Community Offices ·      Door-to-door visits ·      Community perceptions surveys – SLO Index ·      Newsletters and social media ·      Annual sustainability summary brochures
Indigenous Peoples	·      Regular engagement with local indigenous community members regarding identified concerns and opportunities for collaboration
Government	·      Regular meetings or consultations ·      Implementation of agreements ·       Partnerships
Employees and Contractors	·      Site-specific Joint Health & Safety Committee (JHSC) ·      Training ·      Safety Culture Perception and Sustainability Surveys ·      Social media ·      Regular newsletter, internal communications and e-mail updates ·      Employee Engagement Surveys
Labour Unions	·      Collective bargaining (where applicable) ·      One-on-one and group meetings
Non-Governmental Organisations	·      Community collaboration programmes ·      Meetings throughout the year, as needed
Industry Associations/ Regional Business Associations	·      Ongoing membership in industry associations ·      Participation in industry forums, conferences and committees
Suppliers	·      Meetings with local contractors and suppliers ·      Meetings with other contractors and suppliers
Customers	·      Regular contact ·      Environmental, social and governance-related information requests and surveys ·      Engagement on Scope 3 emissions and climate-related initiatives
Local Tax Authorities (Chile)	·      Engagement to identify impacts, risks and needs specific to the community and to align potential opportunities with Lundin Mining’s funding priorities
Investors/ Shareholders	·      Investor/ Industry events and presentations ·      Annual General Meeting of shareholders, Quarterly and Annual Corporate Filings ·      Meetings and email correspondence with analysts, investors and lenders ·      Third-party ESG rating databases (Bloomberg, S&P, etc.) ·      Quarterly analyst conference calls

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Lundin Mining engaged with its stakeholders through interviews.

What actions were taken by Lundin Mining to create economic value for its stakeholders?

In its 2022 Sustainability Report Lundin Mining reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2022, Lundin Mining paid $ 342,285 thousand for employee benefits.

• Creating economic value for providers of capital
• In 2022, Lundin Mining paid $ 287,078 thousand to providers of capital.

• Creating economic value for governments
• In 2022, Lundin Mining paid $ 184,039 thousand to governments.

• Creating economic value for communities
• In 2022, Lundin Mining spent $ 4,694 thousand in community investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

• Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
• Targets: 8.1, 8.2
• Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
• Targets: 9.1, 9.4, 9.5

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

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References:

This case study is based on published information by Lundin Mining, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://lundinmining.com/site/assets/files/9177/2022_sustainability_report_lundin_mining_aoda.pdf

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